NV5 Global (NVEE) said Thursday it has received shareholder approval for the proposed $1.7 billion acquisition by Acuren (TIC).

Under the previously announced terms of the agreement, NV5 shareholders will receive $23 per share, which will consist of $10 in cash and $13 in Acuren common shares.

Upon closing, Acuren shareholders will own about 60% of the combined company, and NV5 shareholders will own about 40%. The transaction is expected to close in August, the company said.

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